In September 2018, two prospective buyers announced they were dropping out of negotiations to purchase the Navajo Generating Station (NGS), the American West’s largest coal-fired power plant.
Avenue Capital Group and Middle River Power had sought to keep the aging coal plant in business, but “said they could not get anyone to commit to buying power from the plant, delaying the start of an environmental review,” the Associated Press reported. The plant, located in northern Arizona near the Utah border, is currently scheduled to shut down in December, after its current owners concluded in 2017 that its power was too costly to be competitive.
The two firms had progressed further in talks with the coal power plant’s owners than any of the 15 others identified as potential buyers by a consulting firm hired by Peabody Energy, which for decades has mined the coal burned at the plant.
A think tank that’s been backed by Peabody Energy is pushing the sale of the ailing plant and coal mine — and is now finding an audience in the Navajo Nation with the help of a Heartland Institute policy advisor.